Japan may delay a decision on tax increases needed to fund its significant military expansion, according to Mitsunari Okamoto, the policy chief of Komeito. He emphasized that even if a decision isn't reached this year, the country will continue to enhance its defense capabilities.
Oil prices have declined following a period of calm in the Middle East. In Japan, the ruling Liberal Democratic Party (LDP) and its junior coalition partner Komeito secured 215 seats in the lower house during the recent election, as reported by public broadcaster NHK.
Japan's ruling coalition, led by new Prime Minister Shigeru Ishiba, is projected to lose its majority in the lower house following snap elections. This marks the Liberal Democratic Party's worst performance since 2009, amid voter dissatisfaction over rising prices and a scandal involving a party slush fund.
Japan's Liberal Democratic Party (LDP) is projected to lose its parliamentary majority in the recent snap election, with exit polls indicating it may fall short even with its coalition partner, Komeito. The LDP, led by Prime Minister Shigeru Ishiba, faces challenges from rising inflation and internal corruption scandals, while opposition parties like the Constitutional Democratic Party and the Democratic Party for the People are expected to gain seats. If the predictions hold, this would mark the first loss of majority for the LDP since 2009.
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